Indexes Mixed As Nasdaq Marks New 13-Year High

Stocks opened lower and pared some of their losses throughout the session, leading the major indexes to a mixed finish.

The Nasdaq, which flirted with positive territory after an initial 0.3% dip, ended with a 0.1% gain, while the S&P 500 edged 0.1% lower and the Dow industrials slipped 0.4%. Volume was lower across the board vs. the prior session, according to preliminary data.

Economic data were mixed, as jobless claims fell more than expected and the NAHB housing market index came in below estimates.

Solar stocks, security software and Internet content were among the day's biggest gainers; consumer electronics retailers and cosmetics/personal care performed the worst.

SunPower (SPWR) soared 10% to an almost five-year high, clearing a 34.03 buy point of a cup-with-handle base in heavy trade. SolarCity (SCTY) surged 12% to a new high as it extended its gains for a third straight session. Deutsche Bank initiated coverage of the solar company with a buy rating and a 90 price target.

LinkedIn (LNKD) advanced 7%, rising past its 50-day moving average in twice normal volume. The professional social network said it hired ex-Nuomi CEO Derek Shen as president of LinkedIn China.

On the downside, Best Buy (BBY) gapped down and fell 29% to a six-month low in huge turnover after the consumer electronics seller said holiday sales fell amid stiff competition.

Nu Skin Enterprises (NUS) continued its Wednesday loss as shares tumbled 25% in heavy trade. The Chinese government said it'll launch a probe, following a newspaper article that alleged the direct seller runs a pyramid scheme. Canaccord also downgraded the stock.

After the close, Dow component American Express (AXP) was trading slightly lower after reporting Q4 EPS of $1.25 ex items, missing views by 4 cents. Chipmaker Intel (INTC) was also down after Q4 profit fell a penny short of forecasts.

Stocks opened lower and pared some of their losses throughout the session, leading the major indexes to a mixed finish.

The Nasdaq, which flirted with positive territory after an initial 0.3% dip, ended with a 0.1% gain, while the S&P 500 edged 0.1% lower and the Dow industrials slipped 0.4%. Volume was lower across the board vs. the prior session, according to preliminary data.

Economic data were mixed, as jobless claims fell more than expected and the NAHB housing market index came in below estimates.

Solar stocks, security software and Internet content were among the day's biggest gainers; consumer electronics retailers and cosmetics/personal care performed the worst.

SunPower (SPWR) soared 10% to an almost five-year high, clearing a 34.03 buy point of a cup-with-handle base in heavy trade. SolarCity (SCTY) surged 12% to a new high as it extended its gains for a third straight session. Deutsche Bank initiated coverage of the solar company with a buy rating and a 90 price target.

LinkedIn (LNKD) advanced 7%, rising past its 50-day moving average in twice normal volume. The professional social network said it hired ex-Nuomi CEO Derek Shen as president of LinkedIn China.

On the downside, Best Buy (BBY) gapped down and fell 29% to a six-month low in huge turnover after the consumer electronics seller said holiday sales fell amid stiff competition.

Nu Skin Enterprises (NUS) continued its Wednesday loss as shares tumbled 25% in heavy trade. The Chinese government said it'll launch a probe, following a newspaper article that alleged the direct seller runs a pyramid scheme. Canaccord also downgraded the stock.

After the close, Dow component American Express (AXP) was trading slightly lower after reporting Q4 EPS of $1.25 ex items, missing views by 4 cents. Chipmaker Intel (INTC) was also down after Q4 profit fell a penny short of forecasts.

See Also

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03/02/2015 04:50 PM ET

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